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Blog Archive (February 2016)

By: Abdullah Saeed QureshiChina National Chemical Corp, known as ChemChina launched its $20 billion syndicated loan program that will help in funding the ($43.5 billion) purchase of Syngenta AG (NYSE:SYT), the company said on Friday. HSBC along with China CITIC Bank, Rabobank, Credit Suisse, and UniCredit will organize the financing for the seed-maker.“The facility will be split... more

Dow Chemical Co. had planned to take its fight against a $1.06 billion class-action lawsuit all the way to the Supreme Court, but the death of Justice Antonin Scalia prompted the multinational corporation to alter its strategy and settle the case instead.“Growing political uncertainties due to recent events within the Supreme Court and increased likelihood for unfavorable outcomes for... more

By: Willy BlackmoreTyson is responding to consumer demand with a new line of meat sourced from pigs raised without drugs.Last year, it was all about poultry: Major fast-food companies like McDonald’s announced that they would move away from chicken raised with antibiotics, and numerous retailers said they would switch over to cage-free eggs. The changes could redefine the status quo... more

By: Sarah BoseleyThe already delayed childhood obesity strategy will not be published until the summer, the government has said, and campaigners say it is unlikely to include a sugar tax.“It is a very complex issue and there is a lot of work going on to get it right,” said a Department of Health spokesperson. “There are a lot of different issues that need considering and we want... more

A US Senate committee is considering legislation seeking to prohibit states from issuing their own mandatory labeling laws for food containing genetically modified ingredients, establishing a national voluntary labeling standard for GMO foods instead.The timing of a proposed federal law on labeling is seen by food safety advocates as a direct attack on state’s rights, earning it the... more

By: Krishna N. DasIndia should look to introduce high-yielding hybrid seeds to lift its lagging farm productivity, a finance ministry report urged on Friday, in what is being seen as government support for cultivation of genetically modified food crops now banned.Authorities are considering whether to allow commercial growing of genetically modified (GM) mustard, which uses a technology that... more

By: Matthew Perrone | APDow Chemical said Friday it will pay $835 million to settle a long-standing class action lawsuit, after the death of Justice Antonin Scalia decreased its chances of prevailing at the Supreme Court.The announcement is an early indication of how corporations are shifting their legal strategy following the loss of the court's 5-4 conservative majority... more

Associated PressA bill that would require genetically engineered fish to be labeled in Oregon has died in a Senate committee.The Capital Press reports that the Senate Committee on Health Care failed to act on the bill by the Legislature's Feb. 23 deadline. Sen. Laurie Monnes Anderson says there wasn't enough time to discuss it during this year's short legislative session.... more

By: Lorraine ChowThe French consumer rights group 60 Million Consumers has released a report warning women that a number of feminine care products such as tampons, sanitary napkins and panty liners may contain trace amounts of potentially toxic substances such as pesticides, dioxins and glyphosate, the main ingredient in Monsanto‘s Roundup... more

By: Nicole Lyn PesceCould this buzz kill?Traces of a toxic herbicide that has been shown to cause cancer have been found in Germany’s most popular beers.The Munich Environmental Institute revealed on Thursday that small amounts of glyphosate, the world’s most-used weed killer, were in all 14 brews it tested.Glyphosate was declared a probable human carcinogen last year by a World... more

By: Lydia Wheeler and Tim DevanyConsumer advocates are urging lawmakers in the Senate to reject legislation that would preempt states from issuing their own mandatory labeling laws for foods containing genetically modified ingredients. Sen. Pat Roberts (R-Kan.) unveiled a draft bill late last week that requires the Agriculture secretary to establish a national voluntary labeling... more

Feb 23 Kenya's Mumias Sugar expected to perform better in the second half after posting a wider pretax loss for the six months ended Dec. 31, the company said on Tuesday, adding falling prices due to illegal imports could pose a challenge.The heavily-indebted firm has been struggling with cash flow problems in recent years, forcing the government to step in with bailout funds and has hired a... more

By: Whitney FilloonThe state of Washington is suing the food industry group that attempted to keep the brands' identities a secret.The debate over GMO labeling shows no signs of slowing: Consumers are shown to be overwhelmingly in favor of mandatory food labels that disclose the presence of genetically modified organisms, as major food manufacturers lobby Congress to... more